Wall Street Zen Upgrades Public Service Enterprise Group (NYSE:PEG) to “Hold”

Public Service Enterprise Group (NYSE:PEG) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued on Saturday.

Other equities research analysts have also recently issued reports about the stock. Evercore upgraded shares of Public Service Enterprise Group from an “in-line” rating to an “outperform” rating and set a $96.00 price target for the company in a report on Thursday, March 5th. BMO Capital Markets upped their price target on shares of Public Service Enterprise Group from $90.00 to $91.00 and gave the company a “market perform” rating in a report on Monday, April 13th. JPMorgan Chase & Co. upped their price target on shares of Public Service Enterprise Group from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, March 12th. Truist Financial began coverage on shares of Public Service Enterprise Group in a report on Tuesday, April 21st. They set a “hold” rating and a $91.00 price target for the company. Finally, Barclays upped their price target on shares of Public Service Enterprise Group from $81.00 to $89.00 and gave the company an “equal weight” rating in a report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Public Service Enterprise Group has a consensus rating of “Moderate Buy” and a consensus target price of $93.42.

Public Service Enterprise Group Trading Down 0.0%

Public Service Enterprise Group stock opened at $77.12 on Friday. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.97 and a quick ratio of 0.75. The company has a market capitalization of $38.43 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 2.91 and a beta of 0.53. Public Service Enterprise Group has a one year low of $76.00 and a one year high of $91.25. The company’s fifty day moving average price is $81.94 and its two-hundred day moving average price is $81.57.

Public Service Enterprise Group (NYSE:PEG) last posted its earnings results on Tuesday, May 5th. The utilities provider reported $1.55 EPS for the quarter, topping the consensus estimate of $1.44 by $0.11. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.35 billion. Public Service Enterprise Group had a net margin of 17.69% and a return on equity of 12.30%. The business’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.43 earnings per share. Public Service Enterprise Group has set its FY 2026 guidance at 4.280-4.400 EPS. On average, analysts forecast that Public Service Enterprise Group will post 4.36 earnings per share for the current fiscal year.

Insider Transactions at Public Service Enterprise Group

In other news, SVP Richard T. Thigpen sold 4,700 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $83.00, for a total transaction of $390,100.00. Following the completion of the sale, the senior vice president owned 28,481 shares of the company’s stock, valued at approximately $2,363,923. This trade represents a 14.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ralph A. Larossa sold 2,083 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $81.21, for a total transaction of $169,160.43. Following the sale, the chief executive officer directly owned 289,315 shares of the company’s stock, valued at approximately $23,495,271.15. The trade was a 0.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 10,949 shares of company stock valued at $902,747. Corporate insiders own 0.19% of the company’s stock.

Institutional Trading of Public Service Enterprise Group

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Public Service Enterprise Group by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 67,498,821 shares of the utilities provider’s stock worth $5,420,155,000 after buying an additional 2,189,951 shares in the last quarter. State Street Corp increased its holdings in shares of Public Service Enterprise Group by 2.8% in the fourth quarter. State Street Corp now owns 28,361,198 shares of the utilities provider’s stock valued at $2,277,404,000 after purchasing an additional 762,591 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Public Service Enterprise Group by 1.4% in the third quarter. Bank of America Corp DE now owns 17,773,378 shares of the utilities provider’s stock valued at $1,483,366,000 after purchasing an additional 236,794 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Public Service Enterprise Group by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 12,771,343 shares of the utilities provider’s stock valued at $1,021,475,000 after purchasing an additional 114,351 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Public Service Enterprise Group by 8.1% in the third quarter. Ameriprise Financial Inc. now owns 8,657,207 shares of the utilities provider’s stock valued at $722,546,000 after purchasing an additional 648,140 shares in the last quarter. Institutional investors and hedge funds own 73.34% of the company’s stock.

About Public Service Enterprise Group

Public Service Enterprise Group (NYSE: PEG) is a diversified energy company that operates primarily in New Jersey. Its core businesses include a regulated utility that delivers electric and natural gas service to residential, commercial and industrial customers, as well as generation and energy services operations that participate in wholesale power markets. The company’s activities encompass transmission and distribution, power generation operations, and related energy infrastructure services.

The regulated utility arm, Public Service Electric and Gas Company (PSE&G), is responsible for owning and maintaining electric and gas networks, connecting customers, performing meter and billing services, and managing system reliability and storm response.